Credit without banks: the Amsterdam water bailiff's ledger of 1856

Verwaaij, D.; Bochove, C.J. van

doi:10.1017/s0968565019000076

Cited by 4 publications

(2 citation statements)

References 23 publications

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“…Financial inclusion initiatives set out to address these funding gaps and aim to bolster economic growth by providing small businesses and households universal access to credit as well as a wide range of other useful and affordable financial services (UNSGSA 2021). While inclusive financeof which microcredit is an important partis a relatively novel concept, municipal pawnshops (Calder 2001;Carboni and Fornasari 2020;Maassen 1994;McCants 2007;Tebbutt 1983;Woloson 2007Woloson , 2009, cadastral systems ( Van Bochove et al 2015), preprinted loan contracts ( Van Bochove and Kole 2014), and specialized intermediaries (Hoffman et al 2000(Hoffman et al , 2019; Van Bochove and Van Velzen 2014;Verwaaij and Van Bochove 2019) already made credit markets more inclusive during medieval and early modern times. As a consequence, sizeable and developed credit markets existed in the towns and countrysides of Europe and North America (Briggs and Zuijderduijn 2018;Dermineur 2018;Middleton 2012;Ogilvie et al 2012;Schofield and Lambrecht 2009;Vickers 2010).…”

Section: Introductionmentioning

confidence: 99%

Historical Diversity in Credit Intermediation: Cosignatory Lending Institutions in Europe and North America, 1700s–1960s

Vicq

Bochove

2023

Soc. sci. hist.

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Through a close reading of scattered, disparate, and largely unconnected secondary sources, supplemented with the analysis of primary sources, and backed by economic theory, this paper explores the origins, development, and socio-economic impact of so-called cosignatory lending institutions. These historical institutions were designed to issue small loans to small businesses and households and shared a reliance on cosigners to secure loans and on weekly instalments to repay them. Their shared lending format was flexible enough to display regional variations and this enabled cosignatory lending institutions to operate in societies characterized by notable differences in wealth and economic structure. It also allowed cosignatory lending institutions to fare better in a more urbanized, heterogeneous context than the more well-known credit cooperatives. As such, this systematic overview helps us better understand how credit markets were made more inclusive in urban contexts, which historical circumstances played a role in this, and perhaps even whether and how the success of cosignatory lending institutions may be replicated in present-day developed and less-developed economies.

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Section: Introductionmentioning

confidence: 99%

Historical Diversity in Credit Intermediation: Cosignatory Lending Institutions in Europe and North America, 1700s–1960s

Vicq

Bochove

2023

Soc. sci. hist.

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“…ISSN: 0556-5960, ISSNe 2314-1549. CC BY-NC-SA 4.0 históricamente heterogéneas (Hoffman et al, 2000;Waaij y Bochove, 2019;Burns, 2010).…”

Section: Introductionunclassified

El escribano y la mano visible. Intermediación financiera y crédito en un contexto de información asimétrica (Buenos Aires, siglo XVIII)

Wasserman

2021

RHAA

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A lo largo del último tercio del siglo XVIII el crecimiento económico y la incertidumbre se conjugaban en Buenos Aires, cuya interacción comercial continuaba apoyándose en distintas prácticas de endeudamiento, tal como sucedía desde la emergencia de la ciudad. Para afrontar los riesgos inherentes a la interacción crediticia, los actores podían depositar su crédito en tomadores confiables, cuya correspondencia se presumía asegurada por la proximidad relacional entre las partes. Pero el caso de Buenos Aires también ha dado cuenta de la existencia de transacciones que no se circunscribían a acreedores y deudores pertenecientes a un mismo círculo de sociabilidad: el crédito podía depositarse, asimismo, en un mediador cuya fiabilidad atenuase el riesgo de la distancia relacional entre acreedor y deudor. Y esa mediación habría de apoyarse, por lo tanto, en la capacidad del intermediario para gestionar eficientemente la información crediticia sobre el deudor y, con ello, los riesgos de la operación. El presente artículo tiene por objetivo indagar el rol que los escribanos porteños tuvieron como intermediarios financieros en el mercado de créditos durante el último tercio del siglo XVIII. Se realiza un análisis estadístico sobre los abecedarios de cada protocolo notarial y se evalúa la importancia de la información en su desempeño.

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More than Merchant Bankers: Second-Class Financial Intermediation in Eighteenth-Century Amsterdam

Feenstra

2024

Palgrave Studies in the History of Finance

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In the eighteenth century, the Amsterdam capital market became the central place for major European powers to borrow money. Well-established merchant banking houses offered their services to act as intermediaries. This was the market of High Finance for foreign sovereign debt. We know less about the lower segments of the Amsterdam capital market, where smaller public debtors turned to, such as the Dutch provinces. This paper analyzes how the Dutch province of Friesland operated on the Amsterdam capital market. By focusing on the venues and their proprietors, the chapter demonstrates an evolution in payment methods, in the eighteenth century. Inns formed the central place in the first half of the eighteenth century, from where the Friesland tax receivers arranged payments. In the second half of the century, the financial agent, Johannes Menkema, became more important. He also expanded the financial services he performed for Friesland. Menkema held no formal function, neither as a notary nor as an official city broker, yet he did present himself as a banker. In addition to Friesland, he also serviced other smaller Dutch and German states and cities. This chapter thus highlights the importance of personal transactions hosted by innkeepers and unofficial financial intermediaries besides bankers, brokers, and notaries.

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Credit without banks: the Amsterdam water bailiff's ledger of 1856

Cited by 4 publications

References 23 publications

Historical Diversity in Credit Intermediation: Cosignatory Lending Institutions in Europe and North America, 1700s–1960s

Historical Diversity in Credit Intermediation: Cosignatory Lending Institutions in Europe and North America, 1700s–1960s

El escribano y la mano visible. Intermediación financiera y crédito en un contexto de información asimétrica (Buenos Aires, siglo XVIII)

More than Merchant Bankers: Second-Class Financial Intermediation in Eighteenth-Century Amsterdam

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